Word: quarterly
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Hail Google! Wall Street is crumbling and traditional media companies are struggling to survive. But Internet bellwether Google - the king of search - beat analysts' expectations today and posted solid earnings: $1.35 billion in revenue for the quarter. That's up 31% from a year...
...Corporate Earnings: The good news is that on Tuesday Johnson & Johnson, maker of such staples like Band Aid and Listerine, reported a 30% increase in its third-quarter profit, besting analysts' average estimates by 6 cents a share. The healthcare conglomerate earned $3.31 billion, up from $2.55 billion in the same period a year ago, attributing its higher earnings to increased sales of consumer goods and medical devices - at least Americans are still buying some products. But not all American consumer-product companies are doing so well. PepsiCo, maker of the popular soft drink, missed analyst estimates; shares...
...Analysts also await Google's third quarter earnings announcement on Thursday as an indicator of how the technology company will be able to grapple with the tough economic climate. Ross Sandler, senior internet analyst at RBC Capital Markets, expects Google's revenue to be up 33.5% over the same time last year with a 3% growth rate from second to third quarter, even though its stock price recently sank to the lowest it has been in two years. "Google is down 25% in the last month or so, but ... there is nothing wrong with Google structurally," says Sandler. "Every company...
...data being released this week - including important third quarter company earnings reports, September retail sales and housing starts - will likely add up to a bleak picture, both in terms of consumer confidence levels and the overall health of the U.S. economy. "The data will show an economy that has lost a lot of steam in September in relation to August," says Joe LaVorgna, chief U.S. economist at Deutsche Bank. "It remains to be seen how bad October will be, but we could really see a bad quarter in terms of Gross Domestic Product performance where we are down at least...
...business investment soft. In European countries where the real estate market had overheated, including the U.K., Ireland and Spain, house prices are expected to continue tumbling. As the rest of the world also slows, exports will be hit - particularly bad news for Germany, which as recently as the first quarter of this year had served as the motor of Europe, thanks to its surging sales of machinery and other capital goods to places like China, Russia and the Middle East. In the last few days, companies ranging from motor manufacturer Deutz to Koenig & Bauer, which makes printing machines, have...